Cosmos Health nears UK approval for biocide disinfectant soap
Investing.com | Editor Natashya Angelica
Published Mar 19, 2024 11:07AM ET
CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group, is on the cusp of gaining regulatory approval in the United Kingdom for its disinfectant hand soap, C-Scrub Wash 4% CHG. The company has announced receipt of its first purchase order in anticipation of the approval from the UK's Health Security Agency. This step is expected to permit the distribution of C-Scrub throughout the UK market.
C-Scrub, which contains 4% chlorhexidine gluconate, is designed for routine hand disinfection. Its antimicrobial action is immediate and sustained for up to 6 hours, targeting a broad spectrum of microbes including bacteria, viruses, and fungi. The product is considered suitable for individuals sensitive to iodine and includes emollients to maintain skin health.
Cosmos Health is also in discussions to supply C-Scrub to the National Health Service (NHS), which could represent a significant source of revenue for the company. The NHS is the publicly funded healthcare system of the UK, which includes services in England, Scotland, Wales, and Northern Ireland.
The global hospital disinfectant products and services market is projected to grow from $36.1 billion in 2023 to $75.6 billion by 2033, according to Future Market Insights, with the UK market expected to contribute substantially to this growth.
Greg Siokas, CEO of Cosmos Health, expressed optimism about the potential market opportunities in the UK and the company's plans to expand into key non-EU markets. The anticipated collaboration with the NHS is seen as particularly promising for generating attractive cash flows for Cosmos.
Cosmos Health, incorporated in 2009, has a diverse portfolio including pharmaceutical and nutraceutical brands, and operates through various subsidiaries including Cana Laboratories, which produces pharmaceuticals and other healthcare products in the European Union. The company is also involved in the telehealth space with its acquisition of ZipDoctor, Inc.
This information is based on a press release statement and includes forward-looking statements that involve risks and uncertainties. Such statements are not guarantees of future performance, and actual results may differ materially. The company cautions readers not to place undue reliance on these forward-looking statements.
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